IMPORTANT NOTE - From 6 April 2012, tax relief for certain general deductions is restricted to 10% for individuals. The general deductions affected are; interest paid on mortgages or loans, charitable donations or deeds of covenant, private medical insurance payments, nursing expenses and educational deeds of covenant entered into on or before 5 April 2011 and where the student is in qualifying full time education at that date. For tax years prior to 2012/13, general deductions were treated as reducing an individual’s taxable income and tax relief was therefore given at the individual’s effective rate of income tax. From 6 April 2012, 10% tax relief for the affected general deductions will be treated as reducing an individual’s total liability.

* Single parent additional allowance

** Age allowance is available to Isle of Man residents who are 65 or over at the start of the tax year

*** Mortgage and Loan Interest limit is for a single person, limit is doubled for a jointly assessed couple